Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during "Barron's Roundtable" astatine Fox Business Network Studios connected January 09, 2020 successful New York City.
John Lamparski | Getty Images
Bank of America is scheduled to study third-quarter net earlier the opening doorbell Thursday.
Here's what Wall Street expects:
- Earnings: 71 cents a share, 39% higher than a twelvemonth earlier, according to Refinitiv.
- Revenue: $21.8 billion, 6.5% higher than a twelvemonth earlier.
- Net Interest Income: $10.6 cardinal connected a reported basis, according to StreetAccount
- Trading Revenue: Fixed Income $1.93 billion, Equities $1.45 billion
- Investment Banking Revenue: $2 billion
Has indebtedness request astatine Bank of America turned the corner?
That's what analysts are wondering astir the second-biggest U.S. lender by assets. Investors privation to spot indebtedness maturation amended from a anemic archetypal fractional of the twelvemonth due to the fact that that volition assistance the slope nutrient much involvement income.
Like different lenders, Bank of America acceptable speech billions of dollars for recognition losses past year, erstwhile the manufacture anticipated a question of defaults tied to the coronavirus pandemic. Banks person been releasing immoderate of those funds erstwhile the losses didn't arrive, and analysts volition beryllium funny however overmuch of a boost that dynamic volition person successful the 2nd fractional of the year.
They volition besides apt inquire CEO Brian Moynihan astir succession readying aft his astir elder deputy, main operating serviceman Tom Montag, announced his departure. Last month, Moynihan announced a sweeping absorption overhaul, including a caller concern chief, exertion head, wide counsel and main administrative officer.
Shares of Bank of America person climbed 42% this year, exceeding the 36% summation of the KBW Bank Index.
This communicative is developing. Please cheque backmost for updates.
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